Schmidt P J Investment Management Inc. Purchases 183 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Schmidt P J Investment Management Inc. lifted its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,021 shares of the pharmaceutical company’s stock after purchasing an additional 183 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Vertex Pharmaceuticals were worth $940,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Vertex Pharmaceuticals in the 3rd quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $29,000. Annapolis Financial Services LLC acquired a new position in Vertex Pharmaceuticals during the 1st quarter worth about $27,000. Stephens Consulting LLC acquired a new position in Vertex Pharmaceuticals during the 2nd quarter worth about $31,000. Finally, Founders Capital Management lifted its position in Vertex Pharmaceuticals by 50.0% during the 2nd quarter. Founders Capital Management now owns 75 shares of the pharmaceutical company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Institutional investors own 90.96% of the company’s stock.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Director Bruce I. Sachs sold 5,295 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total transaction of $2,689,860.00. Following the completion of the sale, the director now owns 40,000 shares of the company’s stock, valued at $20,320,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $476.75, for a total transaction of $1,086,990.00. Following the sale, the chief marketing officer now directly owns 23,259 shares in the company, valued at approximately $11,088,728.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce I. Sachs sold 5,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $508.00, for a total value of $2,689,860.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $20,320,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,005 shares of company stock valued at $5,988,066 in the last quarter. 0.20% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Price Performance

Shares of VRTX opened at $471.91 on Friday. The stock has a market capitalization of $121.80 billion, a P/E ratio of -232.47 and a beta of 0.40. Vertex Pharmaceuticals Incorporated has a twelve month low of $341.90 and a twelve month high of $510.64. The company has a 50 day moving average of $475.60 and a 200-day moving average of $461.29. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 0.02.

Vertex Pharmaceuticals (NASDAQ:VRTX) last released its earnings results on Thursday, August 1st. The pharmaceutical company reported ($12.83) earnings per share for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business posted $3.53 earnings per share. Vertex Pharmaceuticals’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Vertex Pharmaceuticals Incorporated will post -2.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRTX. TD Cowen upped their price target on shares of Vertex Pharmaceuticals from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their price target on shares of Vertex Pharmaceuticals from $500.00 to $535.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Raymond James restated a “market perform” rating on shares of Vertex Pharmaceuticals in a research report on Thursday, October 10th. Royal Bank of Canada cut their target price on shares of Vertex Pharmaceuticals from $431.00 to $425.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Morgan Stanley upped their target price on shares of Vertex Pharmaceuticals from $462.00 to $474.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $492.92.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.